Concho Resources Inc. (CXO) Stake Lessened by Bamco Inc. NY
Bamco Inc. NY cut its holdings in Concho Resources Inc. (NYSE:CXO) by 32.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,837 shares of the oil and natural gas company’s stock after selling 65,552 shares during the period. Bamco Inc. NY owned about 0.09% of Concho Resources worth $17,761,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Concho Resources by 30.8% in the second quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock valued at $825,288,000 after purchasing an additional 1,599,084 shares during the last quarter. Capital World Investors lifted its stake in Concho Resources by 10.6% in the second quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock valued at $1,311,613,000 after purchasing an additional 1,034,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Concho Resources by 3.1% in the second quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock valued at $1,839,892,000 after purchasing an additional 454,428 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in Concho Resources in the second quarter valued at approximately $52,513,000. Finally, Dimensional Fund Advisors LP lifted its stake in Concho Resources by 45.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock valued at $159,823,000 after purchasing an additional 377,438 shares during the last quarter. 94.55% of the stock is owned by institutional investors.
Shares of Concho Resources Inc. (NYSE CXO) opened at $139.50 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. Concho Resources Inc. has a 12-month low of $106.73 and a 12-month high of $147.77. The stock has a market capitalization of $20,988.44, a price-to-earnings ratio of 85.03 and a beta of 1.09.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The company had revenue of $627.00 million for the quarter, compared to the consensus estimate of $614.12 million. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 45.8% compared to the same quarter last year. analysts expect that Concho Resources Inc. will post 1.82 EPS for the current fiscal year.
CXO has been the topic of several research analyst reports. Barclays upped their price objective on Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Zacks Investment Research downgraded Concho Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Piper Jaffray Companies dropped their price objective on Concho Resources from $167.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Finally, SunTrust Banks set a $145.00 price objective on Concho Resources and gave the company a “buy” rating in a research note on Tuesday, October 31st. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $152.42.
Concho Resources Company Profile
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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